For the quarter ended July 2024, Palo Alto Networks (PANW) reported revenue of $2.19 billion, up 12.1% over the same period last year. EPS came in at $1.51, compared to $1.44 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $2.16 billion, representing a surprise of +1.29%. The company delivered an EPS surprise of +7.09%, with the consensus EPS estimate being $1.41.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Palo Alto performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Billings

  : $3.50 billion versus $3.45 billion estimated by 11 analysts on average.

• RPO (Remaining Performance Obligation)

  : $12.7 billion compared to the $12.48 billion average estimate based on three analysts.

• Revenue- Product

  : $480.50 million compared to the $496.69 million average estimate based on 12 analysts. The reported number represents a change of -5.3% year over year.

• Revenue- Subscription and support

  : $1.71 billion compared to the $1.67 billion average estimate based on 12 analysts. The reported number represents a change of +18.2% year over year.

• Revenue- Subscription and support- Support

  : $581.50 million versus $567.64 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +10.1% change.

• Revenue- Subscription and support- Subscription

  : $1.13 billion versus $1.09 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +22.8% change.

• Product gross profit Non-GAAP

  : $378.70 million compared to the $388.18 million average estimate based on 10 analysts.

• Subscription and support gross profit Non-?GAAP

  : $1.30 billion versus $1.28 billion estimated by 10 analysts on average.

• Subscription and support gross profit GAAP

  : $1.24 billion versus $1.24 billion estimated by two analysts on average.

• Product gross profit GAAP

  : $375.80 million compared to the $389.70 million average estimate based on two analysts.

View all Key Company Metrics for Palo Alto here>>>

Shares of Palo Alto have returned +1% over the past month versus the Zacks S&P 500 composite's -1.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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